U.S. News

Genworth spent $980,000 lobbying gov't in 1Q


Insurer Genworth Financial Inc. spent $980,000 in the first quarter to lobby the federal government on privacy, consumer protection rights and other issues, according to a recent disclosure report.

That's up from the $780,000 the Richmond, Va.-based insurer spent in the year-ago period during the height of the financial crisis, but less than the $1.3 million it spent in the 2009 fourth quarter.

The Obama administration has proposed a series of measures to tighten the reins on financial institutions in hopes of preventing a recurrence of the crisis that struck both Wall Street and Washington in the fall of 2008.

Genworth Financial also lobbied on issues including the National Insurance Consumer Protection Act, long-term care insurance, Alzheimer's disease caregivers, health care reform, retirement securities, taxes and financial regulatory reform.

In the January-March period, the company lobbied Congress, the Treasury Department, and the Department of Health and Human Services, according to the report filed April 16 with the House clerk's office.